Newsmax Media, Inc filed a Petition to Deny on December 31 asking the Federal Communications Commission to block the proposed $6.2 billion merger between Nexstar Media Group and TEGNA Inc., saying that the deal would violate federal law, harm
competition, raise prices for consumers, and damage local news across the country. If the deal is approved, Nexstar would become the largest TV station owner in the nation owning 244 television stations across 44 states. Newsmax CEO Christopher Ruddy says, “This merger would create an unprecedented and dangerous consolidation within the broadcast TV industry, giving them immense control over local news and political news coverage.” Newsmax says that the national television ownership cap was set by Congress at 39% of U.S. television households in 2004 and explicitly stripped the FCC of authority to modify it and argues that any change in the cap by the FCC, including waivers, is a direct violation of law. See the Newsmax story here.
